Occidental Asset Management LLC Buys Shares of 19,786 Reliance, Inc. $RS

Occidental Asset Management LLC purchased a new position in Reliance, Inc. (NYSE:RS) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 19,786 shares of the industrial products company’s stock, valued at approximately $7,392,000. Reliance accounts for 0.7% of Occidental Asset Management LLC’s holdings, making the stock its 28th largest position.

Other hedge funds also recently modified their holdings of the company. Costello Asset Management INC acquired a new stake in shares of Reliance in the first quarter worth $30,000. Brown Brothers Harriman & Co. raised its stake in Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 50 shares during the last quarter. Greenline Wealth Management LLC acquired a new position in Reliance during the 4th quarter valued at $32,000. Quarry LP bought a new stake in Reliance in the 3rd quarter valued at $32,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Reliance by 87.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 55 shares during the period. 79.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. JPMorgan Chase & Co. reduced their target price on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a research report on Thursday, April 30th. KeyCorp upped their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Finally, Wells Fargo & Company upped their price target on Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Reliance presently has a consensus rating of “Hold” and an average target price of $378.67.

Reliance Trading Up 0.3%

RS stock opened at $427.86 on Tuesday. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $433.02. The firm has a market cap of $21.85 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.10 and a beta of 0.96. The business’s 50 day moving average is $399.45 and its 200-day moving average is $358.94. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.47 by $0.80. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.Reliance’s revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the company earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities analysts anticipate that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 14th. Reliance’s dividend payout ratio is currently 29.07%.

Insiders Place Their Bets

In other news, SVP William A. Smith II sold 2,353 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the sale, the senior vice president owned 19,394 shares in the company, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the sale, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. This represents a 13.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is currently owned by company insiders.

About Reliance

Reliance Steel & Aluminum Co (NYSE: RS) is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.

Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.